I see two fees on the ETF report below:

  1. Frais de gestion annuels (max.), which can be translated as expense ratio.
  2. Total des frais sur encours, which can be translated as total expenses on outstanding amounts.

What's the difference between these two fees?

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1 Answer 1


Frais de gestions corresponds better to "Management Expense [Ratio]" (MER) and total des frais to "Total Expense [Ratio]" (TER). The TER includes management fees plus various other expenses (trading costs, custodian fees, fund document fees, etc.)


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